• JPMorgan Chase Boss Jamie Dimon on Thursday summarized the state of the U.S. economy in one paragraph, and it’s not all good.
• The good: U.S. “economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy.”
• The bad: “Geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go and the never-before-seen quantitative tightening and their effects on global liquidity, combined with the war in Ukraine and its harmful effect on global energy and food prices are very likely to have negative consequences on the global economy sometime down the road.”

Tagged: #Bidenflation